This time next year the Estes Park Housing Authority (EPHA) will be busy renting 26 new apartments constructed at 1551 South Saint Vrain. Excavation for the Peak View Apartments began in June and construction is estimated to take about 10 months.
Planning for the project began nearly three years ago after EPHA purchased a four-unit building and two adjoining lots already zoned for multi-family housing in February 2016. The finished product will provide 26 one, two, and three-bedroom units in two buildings that are specifically for workforce housing with no income restrictions.
“This is a unique project for the EPHA as all of our other projects and programs are directed to those in the community earning less than 60 percent of the area median income,” said Naomi Hawf, Executive Director of EPHA “We’re pleased to take advantage of the density bonus and height variance provided by the Town for building housing for those employed in the Estes Park School District boundaries, without income restrictions.”
Many local resources have combined efforts to make this project a realty – BAS1S Architects + Designs developed the plans; The Bank of Colorado is providing construction and mortgage financing; the Town of Estes Park is waiving some fees and providing a loan for water taps; and the Housing Authority is providing cash to close the funding gap. “Without the assistance of our local partners and an additional loan from the Colorado Housing and Financing Authority, this project would not have been possible. Many individuals in Town Government, the EPHA Board, and private businesses worked diligently to make this $7.62 million project a reality. They should be proud of their efforts and we thank them for their work,” said Eric Blackhurst, Chairperson of EPHA.
Hawf, Blackhurst and the EPHA Commissioners agree this is a small step in providing much-needed housing for the Estes Valley workforce. EPHA and the Town continue to work together to help solve housing issues that have been a community concern for decades.